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Friday, October 10, 2008

Chelsea, Liverpool and Manchester United could face exclusion from the Champions League - on the grounds that they hold excessive debt - under plans being drawn up by Uefa next week. The European game's governing body has set up a working group which will meet in Geneva on Monday to discuss how to extend its licensing system and restrict the levels of debt that clubs are permitted to operate with. Currently the financial stipulations in Uefa's system are limited to bans on clubs who have outstanding debts on transfer payments.

It also states that staff should be paid on time. But the proposals being drawn up by Uefa's general secretary, David Taylor, and its president, Michel Platini, would see the system delve far deeper into the financial workings of clubs. "The ultimate sanction is not to be in our competitions," Taylor said yesterday. He explained that debts fixed against assets, for stadium building, are considered more acceptable than those run up in the acquisition of players or for takeovers. He confirmed that this would affect clubs such as last season's Champions League finalists, United and Chelsea, and one of the semi-finalists, Liverpool, unless they significantly reduced their debts.Matt Scott, The Guardian

Liverpool's Fernando Torres will be hoping such reports don't come to fruition after the striker said he dreams of helping Liverpool thrash United in Champions League final. Meanwhile, UEFA president Michel Platini claims English clubs under foreign ownership are in danger of losing their identities.Round up by Gemma Thompson